Q2FY24 Jio Infocomm posts Rs 5,058 cr Q2FY24 net profit, up 12% YoY
Mumbai: Jio Infocomm, the telecom arm of Reliance Industries, posted a standalone net profit of Rs 5,058 crore for the quarter ending in September, up 12.10 percent year-on-year.
Compared to the previous quarter, standalone net profit saw a 4 percent increase, driven by higher revenue.
Revenue from operations stood at Rs 24,750 crore, marking a 9.89 percent year-on-year rise.
Sequentially, it experienced a 2.94 percent increase from Rs 24,042 crore in the preceding quarter.
The company's operating margin showed a year-on-year improvement of 10 basis points, reaching 26.4 percent. Profit margin also saw an increase of 40 basis points, reaching 17.40 percent.
Jio Platforms, which encompasses Jio's digital ventures including telecom, recorded a net profit of Rs 5,297 crore for the quarter, marking a 12 percent YoY growth from Rs 4,729 crore.
The revenue from operations stood at Rs 26,875 crore, reflecting a 10.7 percent YoY increase.
The company's EBITDA saw a significant rise of 12.6 percent, reaching Rs 13,528 crore. The EBITDA margin improved by 80 basis points, reaching 50.3 percent.
The Average Revenue Per User (ARPU) per month for the company demonstrated a 2.5 percent year-on-year improvement, standing at Rs 181.7. This compares to Rs 177.2 in Q2FY23 and Rs 180.5 in Q1FY24.
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